This paper explore the state of the Eastern Cape schools by employing an education production function approach using the Ordinary Least Squares (OLS) and quantile regression techniques in 2013, a period almost twenty years into democracy in South Africa. The study benefited from the...

Although the general assumption is that daily and monthly returns data are normally distributed (Aparicio & Estrada, 2001), the correct statistical distribution of returns must first be established (Linden, 2001), as it constitutes one of the elementary building blocks that will ensure accurate...

I study the implications of learning by doing in production for optimal monetary policy using a basic New Keynesian model. Learning-by-doing is modeled as a stock of skills that accumulates based on past employment. The presence of this learning-by-doing externality breaks the ’divine...

Throughout the past 3 decades, the random walk model served as exchange rate forecasting benchmark to verify that a model is able to outperform a random process. However, its application as forecasting benchmark is contradictory. Rather than serving as a benchmark that explains exchange rate...

Understanding class size effects on educational achievement remains a preoccupation of many economists. But empirical results are, to this far, still inconclusive. I use the two-stage least squares and the instrumental variable quantile regression methods on Lesotho’s grade 6 students...

As a result of the high levels of unemployment in South Africa many unskilled people are forced to resort to a variety of income-generating activities in the informal economy. The activity of collecting and selling recyclables presents virtually no barriers to entry, making it a viable option....

To estimate the long-term, persistent effects of missionary education requires two strong assumptions: that mission station settlement is uncorrelated with other economic variables, such as soil quality and access to markets, and 2) that selection into (and out of) mission stations is...

At what level does a currency’s volatility become ‘excessive’, in a concrete sense? Any claim that an exchange rate is excessively volatile needs a benchmark for ‘normal’variability. We compute variance bounds implied by exchange rate models as the norm, for a set of...

The study investigates the role of mineral resources in economic development and sees how the extractive sector impacts the overall performance of the economy of a country endowed with a diverse minerals and metals. We analyzed the economic growth model using human capital, population growth,...

Estuaries are open access public goods in the sense that it is difficult to exclude people from accessing and using them, and that the marginal cost of this use is low. Given the overwhelming evidence available on the significance of freshwater inflow to estuary functionality, it is clear that...